April 15th Deadline: Can You File a Tax Extension?

It's almost April 15th and you haven't filed your family child care tax return yet. Don't panic. If you need more time you can file for a six month tax extension.

Sometimes child care providers need more time to calculate their depreciation deductions, sort out their records, or deal with a family emergency. However, you don't need to give a reason when you file for an extension.

File Form 4868 Application for Automatic Extension of Time to File U.S. Individual Income Tax Return. This will give you until October 15th to send in your tax forms.

By filing Form 4868 you do not have more time to pay the taxes you owe. They are still due on April 15th. If you don't know how much you will owe, pay what you estimate you will owe with this form. If you underestimate this amount, you will owe interest on the unpaid taxes.

Image credit: https://www.flickr.com/photos/119903731@N02/13047964665

For more information, see my book Family Child Care Tax Workbook and Organizer.

Tom Copeland, www.tomcopelandblog.com